Verition Fund Management LLC Makes New $626,000 Investment in Ubiquiti Inc. (NYSE:UI)

Verition Fund Management LLC acquired a new position in shares of Ubiquiti Inc. (NYSE:UI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,825 shares of the company’s stock, valued at approximately $626,000.

A number of other institutional investors also recently modified their holdings of UI. US Bancorp DE lifted its position in Ubiquiti by 3.9% during the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company’s stock worth $341,000 after buying an additional 57 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Ubiquiti by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock worth $392,000 after acquiring an additional 58 shares during the last quarter. Huntington National Bank lifted its position in shares of Ubiquiti by 267.6% during the third quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares in the last quarter. Willis Investment Counsel grew its stake in shares of Ubiquiti by 6.0% during the third quarter. Willis Investment Counsel now owns 3,250 shares of the company’s stock valued at $721,000 after purchasing an additional 185 shares during the last quarter. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of Ubiquiti in the third quarter valued at approximately $47,000. Institutional investors own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Barclays upped their price target on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Finally, BWS Financial boosted their price objective on Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th.

Ubiquiti Price Performance

UI opened at $333.25 on Wednesday. The company has a fifty day moving average price of $290.00 and a two-hundred day moving average price of $213.30. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. The firm has a market capitalization of $20.15 billion, a PE ratio of 51.53 and a beta of 1.12. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $366.33.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.72%. Ubiquiti’s dividend payout ratio is presently 37.15%.

Ubiquiti Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.